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Economists often like startling theorems, results which seem to run counter to conventional wisdom.
Joseph Stiglitz
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Joseph Stiglitz
Age: 81
Born: 1943
Born: February 9
Critic
Economist
Non-Fiction Writer
Professor
Science Writer
University Teacher
Writer
Gary
Indiana
Joseph Eugene Stiglitz
Joseph Stiglitz
Results
Startling
Wisdom
Theorems
Often
Economists
Running
Counter
Seems
Economist
Like
Conventional
Seem
More quotes by Joseph Stiglitz
Amherst is a liberal arts college, committed to providing students with a broad education.
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If you destroy a firm, you can't pull it out of bankruptcy overnight.
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Nationalization of private debts undermines prudential lender behavior and is a government intervention in the market.
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Any society has to delegate the responsibility to maintain a certain kind of order. Enforcing regulations, making sure people stop at stoplights. We can’t function as a society without rules and regulations, and the enforcement mechanism of those rules and regulations.
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Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
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I went to public schools, and while Gary was, like most American cities, racially segregated, it was at least socially integrated - a cross section of children from families of all walks of life.
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Drug companies spend more on advertising and marketing than on research, more on research on lifestyle drugs than on life saving drugs, and almost nothing on diseases that affect developing countries only. This is not surprising. Poor people cannot afford drugs, and drug companies make investments that yield the highest returns.
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America has had to turn to foreigners to finance its debt - not surprising since household saving in the last years has plummeted to zero. China is one of the largest holders of American debt.
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One has to always ask the question: Where can one be most effective in helping shape policies? It is always difficult when you're inside because you're very constrained.
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I grew up in a family in which political issues were often discussed, and debated intensely.
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It is trust, more than money, that makes the world go round.
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Not everybody is qualified to go to Stanford, but everybody should have access to the best qualify for which they are eligible.
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The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.
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There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.
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Most poor people earn more than minimum wage when they are working their problem is not low wages. The problem comes when they are not working.
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No one would look just at a firm's revenues to assess how well it was doing. Far more relevant is the balance sheet, which shows assets and liability. That is also true for a country.
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The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.
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The life prospects of an American are more dependent on the income and education of his parents than in any of the other advanced industrial countries.
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Unfettered market American-style capitalism doesn't work. Developing countries can't afford that kind of luxury. They just can't afford it. Period. If there's a mistake, they can't afford to put out $2 trillion.
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Climate change is a reality.
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